Jio Platforms Raises About ₹8,110 Cr From Anchor Investors

Ahead of opening its public issue on Wednesday (October 19), telecom major Jio Platforms has raised ₹8,109.8 Cr from anchor investors. 

The company allotted 7.25 Cr equity shares to anchor investors at a price of ₹1,119 per share, the upper end of its price band. 

Around 2.48 Cr shares, more than a third of the overall, were picked up by 25 domestic mutual funds via a total of 95 schemes. Domestic mutual funds that anchored Jio’s IPO were  SBI Mutual Funds, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Aditya Birla Sun Life Mutual Fund, Kotak Mahindra Mutual Fund, among others. 

Besides, 97 Lakh equity shares (13.4% of the anchor round) were picked up by insurance companies and pension funds including Life Insurance Corporation of India, HDFC Life Insurance, SBI Life Insurance, and ICICI Prudential Life Insurance. 

Global investors such as Fidelity, Allianz, BlackRock, Government of Singapore, Abu Dhabi Investment Authority, Goldman Sachs also picked up stakes in Jio ahead of its IPO. 

Jio is seeking to raise ₹30,213 Cr at the upper end of the price band, making it India’s largest public offering till date. This pricing would imply a valuation of ₹10.3 Lakh Cr for the telecom major.

The IPO, which comprises a fresh issue of up to 27 Cr equity shares, will open for public subscription on October 21 and close on October 23.

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